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on the gun control laws they haven't been busy working on the economy. they have also been busy demonizing their opponent. take a listen to president obama and his tone today at the press conference on gun control. >> this will be difficult. they will warn of ta tyrannical all-assault on liberty. not because it's true but they want to gin up fear for higher ratings or revenue for themselves. make sure nothing changes whatsoever. >> andrea: all right. so that was a little tasteless at a press conference like that. the economy is hurting. i want to read a couple of headlines on the economy to give you pause while the fun debate is going on. one, ranks of working poor is increasing. workers are raiding the funds to pay the bills. thaw may downgrade the united states. greg, does he not want to deal with this? >> greg: this is a real issue. this speaks to two different cultures in the united states. it's a prescription of xanax. you can have your gun, protection and security. lefties like john stewart paint gun owners as paranoid, the same time on sunday that bob schieffer likens obama's battle
with their best strategy and the outcome for both the market and the economy. don't go anywhere. more "money" coming up. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares re, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. lori: all right. back to business in washington now republicans hold a big vote to whether or not to extend the debt limit until may. if congress doesn't pass a budget by april 15th they no longer get paid! i have no problem with that. our panel is here with their take on the strategy. we have our favorite economist, peter morici. the always amazing scott martin, chief market strategist with united advisors and former democratic congressman
an entire year since president obama's job council officially made? to as to save the economy. are you happy with how things are going? or power panel is here with what should be happening. for all you brides and grooms to my being the case of cold feet, don't despair. a new company lets you buy and sell your wedding. all you have to worry about is the person elected the altar. the woman behind this new business, even when they say it's not, it's always about "money." all right. we start with the first to announce plans on how exactly it hopes to pay for obamacare. a little bit surprising. republican arizona governor says that the tax increase interstate is the answer. the governor proposing a new hospital provided tax, and this is on topple all the taxes we were just three weeks ago. a number of experts and even some hospitals are on board with the governor's new tax hike. with me now is one of them. from the university of arizona public health policy and management professor. welcome to the show. do you think this is a good idea? >> good evening. i think that for arizona this is a very nov
: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. hey, buddy? oh, hey, flo. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you. you always do what they tell you? no... try it, and see what your good driving can save you. you don't even have to switch. unless you're scared. i'm not scared, it's... you know we can still see you. no, you can't. pretty sure we can... try snapshot today -- no pressure. >>> good morning. welcome, everybody. our starting point this morning is inauguration day. take a look at the picture of the masses starting to gather on the national mall, here to witness president obama's second public inauguration. our festivities begin at this hour. we're expecting to see the president in roughly 30 minutes or so as he makes his way to mass. john? >> i'm john king. inaugural speeches have been used to set the tone, unite a nation, and to set an example for the rest of the world. we're going to look this morning at the historical significance of today and w
dan kerman is here to explain. >> when the economy outwith the economy in the dolldrums three years ago, congress created the payroll tax holiday, which cut the payroll tax from 6.2% to 4.2%.for 2011 and 2012. meaning more money in your paycheck to spend to help get the economy going. well that so called holiday expired at the end of last year. meaning your payroll tax goes back up 2% meaning less take home pay. here's what it means. households making between 40 and 50 thousand dollars will see 579 dollars less this year. those making between 50 and 75 thousand dollars will see about 822 dollars less this year. those making between 75 and 100 thousand dollars will pay 1,206 more in tax, or 100-dollars a month the big question is, will this impact the economy? since consumers have less in their paycheck each week, even if it's 25$ a week, will they spend less? some forecasters say definitely. others say we've paid this rate for years and this 2-percent will have little impact over the long term. especially when you consider that middle class tax rates are not going up. >> pam: now th
me mean this. people advise me on making financial decisions. they think the economy looks pretty good. don't mess it up. >> it does look pretty good, as best we can tell. the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it? >> we don't have to do it immediately, and that's an important point. conservatives don't either. the conservative base right now is an older base. it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem
agenda that is designed to appeal to partisans. >> reporter: to the nation's still-recovering economy. >> he is addicted to spending. and those are policies that will hurt our country long term. >> reporter: and tonight, a top white house adviser tells nbc news that the president has finished writing his remarks for his inaugural address tomorrow that he will deliver shortly after completing the ceremonial oath of office. and then, tomorrow night, the obamas, lester, will celebrate with two inaugural balls, compared to ten four years ago. >> all right, peter, thank you. >>> and washington is getting ready for the spectacle that brings at least a sense of unity to this city once every four years. nbc's kelly o'donnell is outside the capitol with that story. kelly, good evening. >> reporter: good evening, lester. this is where it all happens for what is the grandest photo op in american politics. tomorrow, we will see the president walk through that red drape behind me and he will take the ceremonial oath and deliver his inaugural address at the front of that stage. just final touches t
, the economy will stop. we did a major outreach. we trained an outreach team, who went to every community meeting, to educate people on how bad the crisis was. not only did i tell people that we'd have to raise rates, i told them we'd have to tear up the city to repair this infrastructure. man: you can't simply say, "i won't use any water, it's too expensive." we have about 25% of our population that's at or below the poverty line, so you have to look at rate structures that are tiered so the people can pay their bills. franklin: we would love to have something like 75% federal money. we do get some federal aid and we are thankful, but on the other hand, we're paying for this primarily with new rates. we have increased our rates to among the highest in america. but not nearly as much as if we hadn't passed a one-cent sales tax dedicated to water and sewer infrastructure. hunter: that sales tax counts for about a third of the revenue of the department right now. franklin: we got 75% of the voters to agree to tax themselves so that their children and their children's children could have cle
time. stay with us. >>> welcome back, everyone. well, the economy has come a long way since president obama's first inauguration. since that first swearing-in ceremony, the stock market has soared. the dow jones industrial average, up nearly 72%. back then, the economy has fallen to its lowest point since the great depression. and digging out has caused one other measure of the economy to soar, the national debt. >>> and soda sales are falling flat. the pace of the decline quickened even during the holiday party season. now, the giant soft drink companies are scrambling to change their directions, pinning their hopes on sports drinks or low or no-calorie versions. older people are now concerned about obesity and diabetes. >>> more super bowl ads will be crowd source this year. you may remember this made by a fan. this time, doritos will air two fan submissions. pepsi and pizza hut are getting into the act, by inviting fans to upload stories that will be woven into commercials will be air during the big game. good luck to those guys. >>> at the movies this weekend, jessica chastain was
. i wouldn't put any jeopardizing of the economy there. shows that it is a very rational, put us on a better path and i would think all the american public could support it in the senate as well. >> the house is also suggesting a policy of no budget, no pay. if lawmakers fail to do their job, the american people shouldn't pay them. bill? >> bill: what do democrats say about all of this, mike? >> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you know, engage in another process that results in a self-inflicted wound to the economy. >> this afternoon, carney calls on congress to pass an extension of the borrowing limit without delay. bill? >> bill: get rea
to do. but he needs to get to work. and the number one problem is the economy. he's got to fix the economy. the fiscal situation has been fixed, to a large extent. the stock market's doubled. that's pretty good. but he has to get everybody working again. it means fix the economy. it means fix the education. so we're bringing kids along that have the skills for 21st century america. his focus has to be on the economy. on the need to reduce unemployment. and frankly, i hope he can, through his own example, restore a sense of civility in the country. >> every president learns a lot. is scarred by the office. also made more wise by the office. what is the one thing you hope president obama has learned over the last four years? >> i hope he's learned that you know, no one part of the government, really, gets it all done. and so, he's got to do a better job of reaching out to members of congress, across both -- across the aisle, to the republicans. and the republicans have to stop buying into things that demonize the president. why aren't republican leaders shouting out about all thi
the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy
the american economy. the financial well-being of the american people is not leverage to be used. martha: hmmm. there you go. iowa republican congressman steve king joins me now. so those are your two options. you can either crash the american economy or you can raise the debt limit or refuse to raise the debt limit. what do you pick, congressman king? >> isn't that masterful political rhetoric coming from the president? if you listen to him talk, there is a little pause in his selection of words there, you it is choreographed and carefully chosen but the american people will be able to see through this i believe. the first problem we need to deal with, martha, the misuse of the term default that emerged in the last debt ceiling crisis in august of 2011 when used on both sides of the aisle, when we reach the point the united states didn't have anymore borrowing authority that automatically meant default. it doesn't. that was a false definition then. it is a false definition now. we have enough money to operate essential components of this government that we can go on for a very long time. this
lawmakers accountable for what they're doing or not doing to the economy. i am the network's chief business correspondent in addition to anchoring the show. it's a title i earned covering economies and businesses and stock marks around the world. you can see me do that every weekday morning on a show called "world business today." next week, i'll be talking to some of the smartest most powerful minds in business who have an impact on your prosperity. let me show you where i'm going. davos is in the eastern part of squitser land in the swiss alps. it is the highest city in europe. a little more than 10,000 people live there, but every year some of the biggest names in business come in for the world economic for forum. it turns out to be the coldest place in europe and maybe the best place to take the temperature of the global economy. i'll be thousands of miles away but not going to forget about my job. my fox will be on what role the u.s. plays in the global economy and what 2013 is going to look like to the global business elite because their decisions will have an impact on investment and
descending on the tiny ski town off davos, switzerland for the world economic forum. the economy will be front and center as the group's founder has warned the world has not yet escaped the risk of economic collapse? do we ever. we have davos covered all week long. you will not want to miss a minute with liz claman. she sits down with richard gelfond, imac ceo. that is right here on fox business. she has a slew of guests. all the all-stars. lori: want to take a trip to a warmer climate? southwest airlines announcing well, it might cost you a little more especially if you want to board early. a $40 fee guaranties passengers get to be one of the first 15 people in line to board. travelers who want to be first on the plane can purchase the option at the gate up to 45 minutes before boarding. but space is limited. only 15 of these early passes will be sold. southwest, the nation's most popular domestic airline already charges $10 for early bird check-in service but early bird service improves your spot in the boarding queue. doesn't guaranty a specific spot like the fee will and grab
temperature of the global economy. i'll be thousands of miles away but not going to forget about my job. my fox will be on what role the u.s. plays in the global economy and what 2013 is going to look like to the global business elite because their decisions will have an impact on investment and job creation right here in the united states. if you've got questions you want me to ask, you're unclear how the u.s. fits into the global economy right now, hit me up before i go or while i'm there. and tune in here saturdays as the 1:00 p.m. eastern, suns at 3:00. thanks for joining the conversation here on "your $$$$$" and have a fantastic $$$$$" and have a fantastic weekend. -- captions by vitac -- www.vitac.com >>> a beautiful day on the national mall. hello, everyone. it's 2:00 on the east coast. 11:00 a.m. out west. thank you for joining us. i'm kate bolduan. >> i'm john berman. great to see you here today. we are live in washington, d.c., covering a huge event for this city and a huge event for the entire country. president barack obama's second inauguration. >> you can just see the
, he's got a hundred days, really maybe a year to create his legacy. we're hearing the economy, taxes, gun control, immigration, energy policy. i look for him to hit on those themes, and i look for a theme of unit. i'll look to see if he can bring boehner and the republicans over or if he's going to try to exercise in a second term as a campaign style president, one role he's more comfortable in, really, than governing. >> just briefly here because we mentioned history and we started off the show talking about president george washington's second address which was only 135 words, shortest in history. when you look over history, what do you look to as a very significant inauguration, a point of comparison, if you will, to others? >> sure. well, this one feels to me like bush's, g.w. bushes 2004 election. i look to others as more inspirational. i look at the highenned security during lincoln's reelection where he referenced god 14 times, trying to bring the country together during a civil war that was dividing our nation. i look at the depression and fdr, trying to tell people that fear
republicans, who want to tie the debt ceiling to cutting spending and obama says blow up the economy and risk the full faith and credit of the united states and to do so is irresponsible, the consequences of not paying our bill would be disastrous. the charges went on and on and on and made it sound like only an anarchist would oppose raising the debt ceiling. listen to this: . >> what i will not do is to have that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you gut medicare or medicaid or otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. look, i don't think anybody would consider my position unreasonable here. democrats don't like voting for the debt ceiling when the republican's president, but you never saw the situation in which democrats suggested somehow that we would go ahead and default if we didn't get 100% of our way, that's just not how it's supposed to work. >> sean: hearing that i can't help, but be reminded of obama's record on the
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. >> what's the biggest misconception about our economy? >> is that the did he haeficit biggest problem we face. the deficit is not the biggest problem we face. the biggest problem we face is jobs. and wages. >> for decades we've been told don't tax the upper class because the less tax they have, the better it is for the middle class. true or false? >> false. the idea of the job creators belies -- the truth about the economy is the vast middle class, everybody is aspiring to join the middle class, they are the job creators because their spending creates jobs. >> we've been sold on this for years. >> i don't know why they've been sold on this. trickle-down economics, the idea if you give more tax breaks to people at the top and companies at the top, you're going to create jobs, has been proven over and over again to be false. >> some amazing insight. what's next for robert reich? he says if the president asks, he would go back to washington. as for now he loves teaching at cal and just released his latest book called "beyond outraged. "you can find the segment on nbcbayarea.com/the intervie
in office. >>> it felt like the economy was starting to turn. at the same time the interest rates kept getting lower and lower. >> taking advantage of a housing boom in the golden state. the sign the housing market is recovering in california and the rest of the country. >>> welcome back to first coast news at 11:00. it is 9:00 -- cbs 5 eyewitness news. it is 9:00, january january 20th. i am anne makovec. >> and i am phil matier. i just got word that president obama did complete his swearing in. >> yes. he did it before the top of the hour. >> the president just finished his private swearing in ceremony as we just mentioned at the was. supreme court chief justice roberts is there and using the first lady's family bible. here it is. >> i pa rack hussien obama do solemnly swear. >> that i will faithfully execute. >> the office of the president of the united states and will to the best of my ability preserve, protect and defend the constitution of the united states so help me god. >> congratulations mr. president. >> thank you mr. chief justice. thank you so much. >> thank you, sweet
of four years ago has been tempered by challenges the nation is facing. a stubborn economy and voters lack of confidence in washington that is mired in partisan dysfunction. senior officials said the address tomorrow will lay out his vision for the next four years. >> he is going to say our political system does not require all of our differences or settle disputes, but it is imperative that our leaders try to see common ground when it can and should exist. >> it stretched out over the long weekend. biden kicked off ahead of obama. he was sworn in by supreme court justice sotomayor. >> the president and vice president laid a wreath at arlington national cemetery and they attended services at historic black church. >> tonight it's quiet on the national mall but tomorrow about 800,000 people are expected to be on hand for president obama's ceremonial swearing in. and he'll hear his ig nug rally address for his second term. >> our coverage of the inauguration begins tomorrow at 4:00 a.m. we'll have live streaming coverage at abc7news.com starting at 6:30 in the morning. >> if you dare go outs
. >> economy on the brink of a passage of a stimulus bill and bailouts for banks and automakers. >> the typical president has, i think, two or three big problems. we've got seven or eight big problems. >> as he staked his presidency on the passage of health care. >> i'm not the first president to take up this cause, but i am determined to be the last. >> a year-long partisan battle. >> you lie! >> ultimately led to sweeping reform. as the next challenge swells in the south -- >> we're watching the oil spill in the gulf of mexico tonight. >> the president fended off criticism that he wasn't acting fast enough. >> we talk to these folks because they, potentially, have the best answers. >> he made history with supreme court nominations and with the country engaged in two wars, president obama took action. >> it is in our vital national interest to send an additional 30,000 u.s. troops to afghanistan. >> he fired a runaway general and fulfilled a campaign promise. >> tonight i am announcing that the american combat mission in iraq has ended. >> but back at home, the mid-term elections brought a res
. >> tech production tends to sink lower when the economy is struggling and when things are going well, drive us out of recession according to ross duval, study author. things are booming now and the numbers would support that. according to a new report on startups compiled by researchers, silicon 1234r50e8 12 was the best place in the world to start a company. >>> that might explain the area's number one ranking notice milken study but also consider these tidbits. san jose's wage growth dropped almost 2% in the last year, per the u.s. labor statistics and santa clara's unemployment rate, while a steady 7.7% is good for just seventh best in the state of california. >> job growth here greatly exceeds what we're seeing in any other metro area in the country. the challenge is there are still many families struggling as we know. unemployment exceeds 8% in san jose. >> and council mann's remarks there summarize the situation well. we are adding the most jobs of any place in the country here in silicon valley. that's true. startups are flourishing. but the overall economy by standard measure
for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a monthly extension is drama. so, what, congress should simply do its job. it should not, we're not going to negotiate over extending the debt ceiling. >> reporter: jay carney said they should avoid another process that causes self-inflicted wound to the economy. jenna. jenna: mike emanuel in washington. mike, thank you. jon: on capitol hill concern is growing over what could happen if the country defaults on its debt. right now administration wants to pay the bill in the order which they are received but republicans say there is a better way that might even avoid default. chief political correspondent carl cameron is live in washington for us. so what are the alternatives here, carl? what's the plan? >> reporter: well, they're talking about plans and none of the alternatives are particularly good because the situation is so bad. with the white house refusing to negotiate spending cuts with republicans as part of a
? over 5 million new jobs, saved the auto industry, brought this economy back. it still has a long ways to go. got the star treaty approved by the united states.s. senate and remember, he did get osama bin laden, led this country on the issue of same-sex marriage, the first president to do so. pardon me, and the point is, two great women to the supreme court. now, looking ahead, that's the first question. what do you think about that first term? 866-55 press. are you yesterday? second, what do you want to see in the second term? i tell you what we are already seeing: a lot more backbone on the part of president obama. it is worken, proven by the fact that the republicans in the house caved over the weekend on the debt ceiling and said, all right. they will extend it for only three months, not good enough. they said they will extend it notno strings attached without all of the cuts to social security and medicare they had been demanding bluffs president obama, we got his back and he stays tough, gets things done in this second term. let's talk about it 866
does not raise the debt ceiling the economy could crash and there could be delays for social security checks and veterans' benefits. >>> things that men will do to i am privilege women. an aussie free diver says he got into the sport to win over a few girls at the public to impress women. he won more than the girls. the 32-year-old is making a nam for himself in diving. he can actually hold his breath under water for 6 minutes and 40 seconds. he is a champion in the second most dangerous sport in the world and he credits the peretti local girls he pretty local girls he met. >> he challenged them at the bar. >> he became an australian champion. >> he was on "60 minutes." he drops down over 200 feet. >> good luck. >>> 5:19. coming up, hear why the key to beating the falcons might not be colin kaepernick after all. >> plus, the cbs station in green bay makes good on our 9ers packers championship game bet. don't miss it. >> oh, boy. so... [ gasps ] these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber.
.s. economy is, quote, not yet out of the woods. the nation's top banker says avoiding the fiscal cliff was good, especially since the alternative would have probably been another recession. but he says there's more work ahead, such as raising the debt ceiling so the government can pay its bills. >>> coca-cola is running spots on cable television that say it's doing its part on obesity. the ads point out that more than one-fourth of its beverages are low-calorie. and burning off the 180 calories from a can of coke can be fun. critics say the commercials minimize the issue and are just damage control. >>> apple is on fire over its stock slump. shares are down to about $500, off almost one-third since last september. the stock peaked at more than $700 when the iphone 5 was announced. sales of the phone are pretty weak, putting pressure on apple to develop a cheaper version. >>> and another darling of silicon valley is promising a big announcement today. but facebook isn't saying exactly what all this is about. most observers think it has something to do with internet searches, going head-
the economy at rigs being. boeing fell 2% in after hours trading after faa grounded dream liners. and apple stock went up 4%. >> a veteran actor spent golden years here in the bay area has died. he was best known for the role in "diff'rent strokes", playing a wealthy white widower raising two sons of his african american housekeeper. a native of canada he had a long career in the movies and stage a cording to his daughter he died at home in livermore. conrad bain >>> a coalition of consumer groups is asking the federal government to take a look at the lending practices of san francisco based wells fargo bank. >> that is right. they're concerned about a program they claim is like a pay day loan product. >> michael finney is here now with a story of a woman comparing her experience to a debt trap. >> yes this, wells fargo prefers to call the program a direct deposit advance, charging 1 path $50 for every $20 borrowed. your loan must be paid in full when the next check arrives. the fee on the loan is equivalent of a percentage rate of 108%. a 30 day loan, 91%. annette smith of rockland needed
, of course the economy. but how does all of that fit? how does that come into something that is coherent? as a vision for the next four years and as a strategy of getting those things achieved. i think that will be great to hear. and to be reflective. what have we learned in the last four years? he came in with high expectations, and he can address some of the divisions that existed in the country politically. he can address domestic and foreign policy issues that were affecting the country. what has he learned about what it takes now and what he will have to do and what his administration will have to do, and what is counting on the american people to do to make his agenda come to fruition? host: the president and vice- president are currently at service at st. john's episcopal old church, just run the corner of the white house. their it is on your screen. we will watch them as they go out. approximately 45 minutes -- 15 minutes more in the service before the exit the church. jane in jacksonville, florida, a democrat's line. please go ahead. caller: first of all, good morning. i want to
felt like the economy was starting to turn and at the same time, the interest rates kept getting lower and lower. that created a sense of urgency. >> reporter: they are hardly alone. at this development east of los angeles, sales have tripled over the last year. they're now selling homes faster than they can build them. >> this community is hoppin''. there's a lot of activity. >> reporter: real estate agent rose broghamer says it's a stark contrast to the scene here five years ago when the real estate boom went bust. there was a period where this was kind of like a ghost town. >> that's a really good word for it. it was very desolate. i did a lot of short sales helped a lot of people move out of their homes, out of their dream homes and had nowhere to put them. >> reporter: and now it's exactly the opposite. >> absolute. now we're seeing it come full circle. >> reporter: and then some. >> this is our master bedroom. >> reporter: the omens haven't even furnished their four-bedroom home with a view but they've already been approached by people asking. >> are you interested in selling? i
bought their dream home. >> it felt like the economy was starting to turn and at the same time the interest rates were getting lower and lower. that created a sense urgency. >> reporter: they are hardly alone. here in east los angeles sales have tripped over the year. they're now selling homes faster than they can build them. >> this community is hopping. there's a lot of activity. >> reporter: this real estate agent says it's a stark contrast to the scene here five years ago when the real estate boom went bust. there was a period when this was like a ghost town. >> that's a very good word for it. it was very desolate. i did a lot of short sales, helped people move out of their homes, out of their dream homes, and had nowhere to put them. >> reporter: and now it's exactly the opposite. >> absolutely. now we're seeing it come full circle. >> reporter: and then some. they haven't even furnished their four-bedroom home with a view, but they've already been approached by people asking -- >> are you interesting in selling? i goo, you'll have to talk to my wife. >
guy. i'm just -- i'm just a victim of this economy. >> reporter: but the tenants say they are the real victims in this case. in san francisco, i'm da lin, cbs 5. >>> well, it is the go to website before going out. now yelp will offer more than food reviews. cbs 5 consumerwatch reporter julie watts on the additional information being offered to diners in san francisco. >> reporter: when it comes to eating out, clean is just as important as the cuisine. >> it's definitely important to me how clean a restaurant is. it's very important. >> you don't want to go into a restaurant and end up with ptomaine poisoning. >> reporter: well, starting this week san francisco diners will have one more protection against food-borne illnesses. yelp will now post the san francisco health department inspection results next to their reviews and star ratings. so your standard search will also include the numerical grade given to the restaurant from 0 to 100 on its last inspection. >> anything from the structural condition of the restaurant to if there's
it mean to the local economy? >> oh, a lot. this guy, he won't have a job. >> normally we're done november lobstering and that's gonna last until -- the money i made will last until april when we start lobstering again. >> reporter: the cold water shrimp population has dropped by 20 million pounds since 2009. researcher don perkins studies these waters and says they don't know if it's due to climate change, a natural cycle, or both. >> this past year is one of the warmest years we've had here. the bottom temperature here in the gulf of maine where shrimp are caught have been three degrees to five degrees fahrenheit above normal. and that's a huge increase in temperature in the marine environment. >> reporter: how could you characterize the shrimp stocks off the coast of maine today? >> in critical condition. >> reporter: critical? >> critical condition. >> reporter: patrick kelleher is the commissioner of the maine department of marine resources. it's his job to protect the fishery. so he and a committee took the step of limiting the shrimp catch to less than one and a half million pounds-
for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> as you would expect, republicans quick to respond. senate minority leader mitch mcconnell said in part the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it. republican congresswoman marsha blackburn of tennessee took it a step further, suggesting her party was ready for a government shutdown. >> we're going to look at all of these options. you know, there is the option of government shutdown. there is an option of raising the debt ceiling in short-term increments. >> would you be willing, if you don't get the kind of cuts that you think are necessary, would you be willing to go into default or to shut down the government? >> i think that there is a way to avoid default if it requires shutting down certain portions of the government, let's look at that. >> according to a recent gallup poll, there are growing concerns about washington's
year and the fourth year. >> harder when he's a candidate to an achieve. the economy, they said if they passed the massive unemployment, it'd keep under 8%, it was spiked up to 10% and down to 7.8 and they say it's a fail. and killed osama bin laden, and passed health care, what kind of program we'll be we're only getting it now, it passed two years ago. >> alisyn: and iraq, promised to end iraq and making steps towards that as well. >> iraq and afghanistan. >> although unemployment continues to be a problem. i read this morning one more person unemployed, manti te'o's imagery girlfriend has lost her job. >> her imagery job. >> she didn't show up. >> we found out she was alive before she didn't exist. >> and people in kentucky picked up a phone and senator mitch mcconnell was calling them on the television and recorded a message sent out to about 250,000 people who live in kentucky. and who own guns who are hunters and he personally pledged as the minority leader in the u.s. senate, he will not allow the president's gun control measures to go through. and here is a little bit of
is hurting the economy. the government has hit its borrowing limit and is expected to run out of ways to pay bills by early march. most people have never heard launchers and other weapons. former president bush is finally released from a hospital. right now, 40's through daly city. as for the current temperatures? quickly dropping into the 40's. 44 in daly city. a 49 in fremont. but we are in for a nother round of the 30's and '40's again tonight. from the san mateo bridge we are seeing clear skies. the cold air mass with the combination of these things and a light went with cold temperatures and yet again the. taking a look at futurecast. widespread 30's. take a look a your screen. already 20's and 30's for the north bay. temperatures will start to warm up of but very slowly. still dealing with a 30 degree readings. temperatures in your neighborhood, coming up. >> most people have never heard of that. next at 5. more tonight at 5-30. >> most people have never heard of it. but in the past few days, the african nation of mali has emerged as a new battleground in the war on terror. kron four's
the failure to raise the debt ceiling would send shock waves through the economy both national and global. that being said, president obama only fanned the flames today painting a picture of government catastrophe based on the facts seems a bit trumped up. >> ladies and gentlemen, the president of the united states. >> reporter: in the first press conference of his second term, president obama wasted little time scaring the day lights out of millions of americans who rely on government paychecks for one service or another, of the consequences of a u.s. default. >> may not be able to pay our troops or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down nuclear materials wouldn't get their paychecks. >> reporter: the president's statement is speculative and not true because, frankly, no one knows what programs will be short changed if the u.s. can't meet its payment obligations. it's never happened before. but here is what we do know courtesy of the bipartisan policy center. if congress fails to raise the debt ceiling the gove
but not with the economy hanging in the balance. >> full faith credit of the united states of america is not a bargaining chip. >>reporter: president challenge is a lot of people we talked to today had no real grasp of what it meant to raise the debt ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a sta
industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>steve: welcome back. the welfare state is growing and sadly on so many levels no sign of it slowing down. >>gretchen: that according to a new chart released by republicans on two senate budget committees. according to dana colmes, federal welfare spending expected to skyrocket 80 % over the next decade. stew varney is here. how did he come up with that calculation? >> that is government numbers used by republican members of the senate budget committee. it represents a whole new america. in fact, it represents a total reversal from the days of welfare reform in the mid-1990's. welfare has made an enormous come-back. there are no plans to rein it in. it is going to go up by $11 trillion. spending on welfare up $11 trillion
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